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Modest growth in the small business economy continues
Newtek, The Small Business Authority®, releases February 2015 SB Authority Index
NEW YORK, NY (March 31, 2015) — Newtek Business Services Corp., (NASDAQ: NEWT), The Small Business Authority®, announced today the release of the SB Authority Index of small business indicators for February 2015 which reached 130.16 points. Approved SBA lending volumes, new entity formation and the ADP employment report led the increase. The SB Authority Index is up 0.13% from January 2015. On a year-over-year comparison, the SB Authority Index is up 3.61%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “The SB Authority Index, which represents the health of the small business economy, is beginning the year exhibiting some of the weakest performance we have seen in its four-year history. The special effects of an accommodative Federal Reserve policy, increased liquidity and lower levels of interest rates lose their simulative impact after many years of repeat performance. We are hopeful the continued attractiveness of the U.S. economy for investments will continue to drive economic performance, particularly in the small business sector.”
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed business development company, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (SMB) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
Newtek’s products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing,The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.